22 DECEMBER 1838, Page 11

The Bank of England, says the .11orning Chronicle. is "

endeavour- ing to put on the screw, as it is technically termed, with a view of ren- dering money scarce." Communications from Lancashire respecting large cotton operations are said to have induced the Directors to take this course. But it is also said that it will have little effect, as the Joint Stock Banks are ready to discount the cotton-bills, and the Bank of England is almost powerless in Lancashire. We snsfieet, however. that the Bank has the means of checking even great cotton-dealers. The export of bullion is considerable, and that circumstance may lee the real cause of the Bank's contraction of its issues.